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No Income or Capital Gains Tax One potential benefit to administering a trust in New Hampshire is income and capital gains tax savings. Generally, irrevocable trusts that are administered in New Hampshire (and which are not taxed to the grantor) are not subject to state income or capital gains tax.
New Hampshire does not tax individuals' earned income, so you are not required to file an individual New Hampshire tax return. The state only taxes interest and dividends at 5% on residents and fiduciaries whose gross interest and dividends income, from all sources, exceeds $2,400 annually ($4,800 for joint filers).
What is it? A 5% tax is assessed on interest and dividend income. The State of New Hampshire does not have an income tax on an individual's reported W-2 wages.
Thus, the complete list of the federal payroll forms that you would need as an employer in New Hampshire are: W-4 Form: The W-4 Form will provide information on the employee withholdings so that you can properly calculate and withhold federal income taxes.
New Hampshire does not use a state withholding form because there is no personal income tax in New Hampshire.